POWERGRID Enters in Term Loan facility with Sumitomo Mitsui Banking Corporation

New Delhi: Power Grid Corporation of India Limited (POWERGRID) has entered into a Term Loan facility agreement for JPY 22 Billion ( INR 14,13,20,89,180.0 ) with Sumitomo Mitsui Banking Corporation, Singapore Branch (SMBC) today on 10th December 2018, towards part-financing of its capital expenditure for its on-going and new projects and renovation and modernisation of its stations. The facility has door to door maturity of 12 years and is on a floating rate interest basis linked to JPYLIBOR ^{(The Japanese yen LIBOR interest rate is the average interbank interest rate at which a large number of banks on the London money market are prepared to lend one another unsecured funds denominated in Japanese yen)}.

 

POWERGRID has an ambitious investment plan and has budgeted Capital expenditure (CAPEX) including investment in the joint venture and subsidiaries of Rs.25000 Crore during the financial Year 2018-19.

 

Major transmission lines under execution by POWERGERID are HVDC Bipole link between Western Region and Southern Region (Raigarh-Pugalur 6000MW HVDC System), POWERGRID Southern Interconnector Transmission System, Green energy Corridor ISTS, POWERGRID Medinapur-Jeerat Transmission system and POWERGRID Varanasi Transmission System Limited.

 

POWERGRID is India’s largest Electric Power Transmission Utility and has been consistently rated 'Excellent' under Memorandum of Understanding with Ministry of Power since 1993-94.